NetApp to Acquire SolidFire, for $870M

netappNetApp, Inc. (NASDAQ: NTAP), a Sunnyvale CA-based provider of software, systems and services to manage and store their data, is to acquire SolidFire, a Boulder, Colorado-based provider of all-flash storage systems for data centers, for $870m in cash.

With the deal, NetApp will add SolidFire’s products to its data fabric strategy, delivering data management across flash, disk and cloud resources. Following the close of the transaction, which is anticipated to occur in NetApp’s fourth quarter of its fiscal year 2016, subject to customary closing conditions, SolidFire CEO, Dave Wright, will lead the SolidFire product line within NetApp’s product operations.

Led by George Kurian, chief executive officer, NetApp will now have all-flash offerings the NetApp All Flash FAS (AFF) product line delivering enterprise-grade features across flash, disk and cloud resources; the NetApp EF Series product line, and distributed, self-healing, webscale architecture for infrastructure buyers.

FinSMEs

03/01/2015

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